The European text analytics market is estimated to grow at a CAGR of 18.3% during the forecast period of 2014 to 2019. The market was valued at $533.6 million in 2014. The advancements in technology; growing social media analysis for brand building; and the growing need of organizations to analyze the sentiments and preferences of customers, among others, are the key factors driving the adoption of text analytics solutions in Europe. Moreover, organizations also aim at gaining a competitive advantage over competitors in the market by using the various text analytics solutions. Furthermore, the huge data available with enterprises can be efficiently used through text analytics to get valuable insights about consumer behavior, which would thereby assist in effective decision making. However, the word ambiguity which makes it difficult to understand the exact meaning of a particular word when used in different sentences makes text analytics solutions quite time-consuming. This may restrain the growth of the European text analytics market in the coming years.

Most of the organizations operational in this region are considered to be tech savvy and innovative. Hence, the markets in the U.K. and Germany have become highly attractive for companies engaged in the development and marketing of text analytics solutions. Organizations are adopting text analytics solutions in order to gain insights from the data spread over the Web; to determine the impacts of existing strategies of the companies; to analyze the factors impacting the brand image.

The report provides a detailed description of the competitive landscape of the European text analytics market, along with the profiles and development strategies of the key players in the market. Microsoft Corporation, IBM, Oracle Corporation, SAS, and SAP are the top players in the European text analytics market, as of 2014. These companies have adopted innovation, new product launches, and joint ventures as their key strategies to boost their growth in the European market.

Scope of the Report

This research report categorizes the Europe Text Analytics market into the following segments and sub segments:

The European text analytics market is expected to grow from $533.6 million in 2014 to $1,223.9 million by 2019, at a CAGR of 18.3% during the period under consideration.

The European text analytics market has been segmented and forecast on the basis of applications such as data analysis, enterprise, search-based, and web-based and software, among others. Among these applications, the search-based application segment held the largest share of the European market and is expected to grow at a CAGR 19.3% from 2014 to 2019. This is due to the increased demand for search enhancing in enterprises of the region. For example, the OpenText Semantic Navigation uses OpenText Content Analytics technology to index web pages and social media content for navigation via semantic facets. The growing applications of solutions such as predictive analytics and social media analytics are expected to drive the growth of the text analytics market in Europe.

The market has been further segmented and forecast on the basis of verticals, such as BFSI, consumer packaged goods, healthcare and pharma, high tech, manufacturing, retail and hospitality, and telecommunications, among others. The retail and hospitality vertical is expected to witness highest growth among the verticals, mainly owing to factors such as rapid adoption of mobile technology, extensive use of social media, and the presence of a large number of tech savvy and innovative organizations. The retail and hospitality segment is expected to grow at the fastest CAGR of 19.8% during the forecast period of 2014 to 2019.

The U.K., Germany, and France are the key countries that have been considered for the market analysis. In 2014, the European text analytics market was dominated by the U.K. segment with a share of 27%. The German segment is projected to grow at the fastest CAGR of 22.1% during the given forecast period.

New product launches and product approvals are the key strategies adopted by the major players to strengthen their positions in the European text analytics market. Moreover, strategies such as partnerships, agreements, collaborations, joint ventures, and acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and to expand their geographic presence. Microsoft Corporation, IBM, SAS, SAP, and Oracle Corporation are among the top players in the European text analytics market.

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